I Need a New Furnace: How Much Does a Gas or an Electric Furnace Cost?

With the price of natural gas currently skyrocketing to new heights, it’s no surprise to learn that more residents and business owners have this one question on their mind: how much does a gas or electric furnace cost?

It’s easy to see why more people are debating making the switch from gas to electric furnaces. With particular attention being paid to the impact of gas furnaces on the environment, many people will argue that making the switch to an electric furnace is a smart one. However, there are others who will point out that gas furnaces are more dependable, particularly in the event that one’s power is knocked out during a snowstorm.

So when it comes down to your new furnace, should you opt for a gas or electric furnace? And how much do these units cost?

The Cost of Gas Furnaces vs. Electric Furnaces

Before we can explore the cost of gas furnaces vs. the cost of electric furnaces, it’s important to note that cost should not be determined by the price tag you see on the furnace itself. This is a very easy mistake to make, and one that may end up costing you a great deal of money in the long run.

You see, the true cost of a gas or electric furnace should be determined by how much you’ll have to spend on repairs, maintenance, and on the heating itself. Therefore, let’s take a closer look at the lifespan of each unit, and what you can expect to spend your money on.

It’s estimated that gas furnaces can have a life expectancy of 20 to 25 years, if they’re kept in good repair. However, it’s important to emphasize the “good repair” part. Gas furnaces require plenty of upkeep to properly function. Additionally, gas furnaces require regular cleaning, which can be rolled into your regular maintenance. Finally, with the price of natural gas on the up and up, it may be more expensive over time to maintain and run a gas furnace.

Electric furnaces, on the other hand, have a much longer life expectancy than gas furnaces. Additionally, they require minimal maintenance, and they carry far less safety issues than traditional gas furnaces. Therefore, the cost of an electric furnace will usually be much lower than a gas furnace, especially in the long-term.

With this breakdown in mind, it’s plain to see that you should upgrade to electric furnaces to save some money!